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Debt (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Line Items]

Summary of Notes Payable

The following is a summary of the Company’s notes payable – related parties at September 30, 2024 and December 31, 2023:

 Summary of Notes Payable

Balance - December 31, 2022		$	-
Face amount of note
Advances			5,267,500
Debt discount/issue costs			(1,608,900	)
Amortization of debt discount/issue costs			1,406,015
Repayments			(262,500	)
Balance - December 31, 2023			4,802,115
Advances			3,630,000
Debt discount/issue costs - original issue discount			(330,000	)
Debt discount/issue costs - stock issuances			(2,020,387	)
Amortization of debt discount/issue costs			2,553,272
Default penalty interest expense			4,317,500
Conversion of debt - preferred stock			(3,630,000	)
Conversion of debt - common stock			(9,322,500	)
Balance - September 30, 2024		$	-

Schedule of Detailed Company’s Notes Payable

The following is a detail of the Company’s notes payable – related parties at September 30, 2024 and December 31, 2023:

Schedule of Detailed Company’s Notes Payable

Notes Payable - Related Parties
Note Holder		Issue Date		Maturity Date			Shares Issued with Debt						Interest Rate				Default Interest Rate				Default Conversion Rate			Collateral			September 30, 2024				December 31, 2023
Note #1		April 19, 2023		July 17, 2024			100,000			A, B			10.00	%			18.00	%			150.00	%		All assets		$	-			$	1,500,000
Note #2		September 22, 2023		July 17, 2024			60,000			A, B			10.00	%			18.00	%			150.00	%		All assets			-				600,000
Note #3		October 13, 2023		July 17, 2024			176,000			A, B			0.00	%			18.00	%			150.00	%		All assets			-				320,000
Note #4		July 5, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				440,000
Note #5		August 2, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				440,000
Note #6		August 23, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				110,000
Note #7		August 30, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				165,000
Note #8		September 6, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				220,000
Note #9		September 13, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				110,000
Note #10		November 3, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				165,000
Note #11		November 21, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				220,000
Note #12		December 4, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				220,000
Note #13		December 13, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				165,000
Note #14		December 18, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				110,000
Note #15		December 20, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				55,000
Note #16		December 27, 2023		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				165,000
Note #17		January 5, 2024		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				-
Note #18		January 16, 2024		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				-
Note #19		January 25, 2024		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				-
Note #20		February 7, 2024		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				-
Note #21		February 20, 2024		August 16, 2024			-						8.00	%			18.00	%			150.00	%		All assets			-				-
Note #22		February 28, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #23		March 8, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #24		March 15, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #25		March 26, 2024		August 16, 2024			13,889			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #26		April 2, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #27		April 8, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #28		April 22, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #29		May 8, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #30		May 15, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #31		May 20, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #32		May 28, 2024		August 16, 2024			13,889			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #33		June 10, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #34		June 28, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #35		July 5, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #36		July 10, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #37		July 22, 2024		August 16, 2024			20,800			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #38		August 6, 2024		August 16, 2024			53,500			C			8.00	%			18.00	%			150.00	%		All assets			-				-
Note #39		August 14, 2024		August 16, 2024			53,500			C			8.00	%			18.00	%			150.00	%		All assets			-				-
																											-				5,005,000
																	Less: unamortized debt discount										-				202,885
																										$	-			$	4,802,115

EZFILL HOLDINGS, INC. AND SUBSIDIARY

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2024

A	See discussion below regarding global amendment for Notes #1, #2 and #3.
B	See discussion below regarding the limitation on the issuance of this lender due to a 9.99% equity ownership blocker.
C	These shares of common stock (425,978) were issued with the underlying original issue discount notes and treated as additional debt discount.

Schedule of Loss on Debt Extinguishment

Schedule of Loss on Debt Extinguishment

Fair value of debt and common stock on extinguishment date*		$	1,791,000
Fair value of debt subject to modification			1,500,000
Loss on debt extinguishment - related party		$	291,000

* The Company valued the issuance of the 60,000 commitment shares at $291,000, based upon the quoted closing trading price on the date of modification ($4.85/share).

Schedule Of Debt Extinguishment

The fair value of the Series A, preferred stock and related loss on debt extinguishment at the conversion date was based on the as-converted basis, calculated as follows:

 Schedule Of Debt Extinguishment

Market price per share of common stock - on date of issuance		$	2.76
Discount to market price on date of issuance			80	%
Conversion price per share		$	2.21
Series A, preferred stock - stated value per share		$	10.00
Conversion price per share		$	2.21
Number of shares of common stock - for each share of Series A, preferred stock held			4.53
Series A, preferred shares issued			363,000
Number of shares of common stock - for each share of Series A, preferred stock held			4.53
Equivalent common shares			1,644,022
Market price per share of common stock - on date of issuance		$	2.76
As converted valuation of Series A, preferred stock		$	4,537,500
Debt converted in exchange for Series A, preferred stock			3,630,000
Loss on debt extinguishment - related party		$	907,500

Schedule of Maturities of Long Term Debt

The following represents the maturities of the Company’s various debt arrangements as noted above for each of the five (5) succeeding years and thereafter as follows:

Schedule of Maturities of Long Term Debt

For the Year Ended December 31,		Notes Payable				Vehicle Notes Payable				Total
2024 (3 Months)		$	-			$	206,094			$	206,094
2025			165,769				279,162				444,931
2026			-				55,810				55,810
2027			-				18,499				18,499
Total		$	165,769			$	559,565			$	725,334

Non-Vehicles [Member]

Property, Plant and Equipment [Line Items]

Summary of Notes Payable

The following is a summary of the Company’s note payable (non-vehicles) at September 30, 2024 and December 31, 2023, respectively:

Summary of Notes Payable

		Loan #1				Loan #2				Total
Balance - December 31, 2022		$	-			$	-			$	-
Face amount of note			275,250				-				275,250
Debt discount			(25,250	)			-				(25,250	)
Amortization of debt discount			9,729				-				9,729
Repayments			(133,289	)			-				(133,289	)
Balance - December 31, 2023			126,440				-				126,440
Face amount of note			-				277,500				277,500
Debt discount			-				(27,500	)			(27,500	)
Amortization of debt discount			15,521				9,050				24,571
Repayments			(141,961	)			(93,281	)			(235,242	)
Balance - September 30, 2024		$	-			$	165,769			$	165,769

Schedule of Detailed Company’s Notes Payable

The following is a detail of the Company’s note payable (non-vehicles) at September 30, 2024 and December 31, 2023, respectively:

Schedule of Detailed Company’s Notes Payable

Note Payable
Issue Date		Maturity Date		Date Repaid		Collateral		September 30, 2024				December 31, 2023
April 16, 2023		December 12, 2024		April 24, 2024		All assets		$	-			$	141,961
April 24, 2024		October 21, 2025		N/A		All assets			184,219				-
						Less: unamortized debt discount			18,450				15,521
								$	165,769			$	126,440

Vehicles [Member]

Property, Plant and Equipment [Line Items]

Summary of Notes Payable

The following is a summary of the Company’s notes payable for its vehicles at September 30, 2024 and December 31, 2023, respectively:

Summary of Notes Payable

Balance - December 31, 2022		$	2,009,896
Repayments			(836,618	)
Balance - December 31, 2023		$	1,173,278
Repayments			(613,713	)
Balance - September 30, 2024		$	559,565

Schedule of Detailed Company’s Notes Payable

The following is a detail of the Company’s notes payable for its vehicles at September 30, 2024 and December 31, 2023, respectively:

Schedule of Detailed Company’s Notes Payable

Notes Payable - Vehicles
Issue Date		Maturity Date		Interest Rate				Default Interest Rate		Collateral		September 30, 2024				December 31, 2023
January 15, 2021		November 15, 2025			11.00	%		N/A		This vehicle		$	17,964			$	28,370
April 9, 2019		February 17, 2024			4.90	%		N/A		This vehicle			-				1,873
December 15, 2021		December 18, 2024			3.50	%		N/A		This vehicle			9,573				37,823
December 16, 2021		December 18, 2024			3.50	%		N/A		This vehicle			9,371				37,023
January 11, 2022		January 25, 2025			3.50	%		N/A		This vehicle			12,743				40,911
January 11, 2022		January 25, 2025			3.50	%		N/A		This vehicle			12,743				40,911
January 11, 2022		January 25, 2025			3.50	%		N/A		This vehicle			12,743				40,911
January 11, 2022		January 25, 2025			3.50	%		N/A		This vehicle			12,743				40,911
February 8, 2022		February 10, 2025			3.50	%		N/A		This vehicle			15,567				43,046
February 8, 2022		February 10, 2025			3.50	%		N/A		This vehicle			15,567				43,046
February 8, 2022		February 10, 2025			3.50	%		N/A		This vehicle			15,890				43,944
February 8, 2022		February 10, 2025			3.50	%		N/A		This vehicle			15,566				43,045
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,235				50,157
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,235				50,157
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			23,235				51,157
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,547				50,862
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,573				50,925
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,573				50,925
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,573				50,925
April 5, 2022		April 20, 2025			3.50	%		N/A		This vehicle			22,573				50,925
August 4, 2022		August 18, 2025			4.99	%		N/A		This vehicle			11,674				20,837
August 4, 2022		August 18, 2025			4.99	%		N/A		This vehicle			11,675				20,838
November 1, 2021		November 11, 2025			4.84	%		N/A		This vehicle			11,060				17,913
November 1, 2021		November 11, 2025			0.00	%		N/A		This vehicle			11,256				18,572
November 1, 2021		November 11, 2025			0.00	%		N/A		This vehicle			11,306				18,572
June 1, 2022		May 23, 2026			0.90	%		N/A		This vehicle			16,613				24,035
June 1, 2022		May 23, 2026			0.90	%		N/A		This vehicle			16,626				24,032
April 27, 2022		May 10, 2027			9.05	%		N/A		This vehicle			86,289				107,047
April 27, 2022		May 1, 2026			8.50	%		N/A		This vehicle			52,054				73,585
													559,565				1,173,278
								Less: current portion					213,706				819,788
								Long term portion				$	345,859			$	353,490

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